Sadbhav Engineering Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 30, 2025 along with a copy of minutes.
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Sadbhav Engineering Limited held its 36th Annual General Meeting on September 30, 2025, via video conferencing from 4:30 PM to 4:46 PM, with all directors in attendance. Shareholders considered and voted on 9 resolutions, including adoption of audited standalone and consolidated financial statements for FY ended March 31, 2025, reappointment of Mr. Shashin V. Patel as a director, his reappointment as Chairman and Managing Director (special resolution), appointment of statutory and secretarial auditors, and ratification of cost auditor remuneration. A key special resolution was passed to allow borrowing of unsecured loans up to Rs. 300 crores that can be converted into equity. Another special resolution approved material related party transactions with promoter and promoter group entities. Mr. Siddharth Bhupendrabhai Vyas was also appointed as a Non-Executive Director. E-voting results will be submitted to stock exchanges within two working days.
The AGM saw clearance of routine items along with two notable special resolutions: a Rs. 300 crore borrowing authorization (with equity conversion rights) and approval for material related party transactions with the promoter group. These indicate potential equity dilution risk from loan-to-equity conversion and continued related-party dealings, which shareholders should monitor closely. Voting results are pending and will be filed shortly.